Carney’s tax relief falls short for Canadians

Carney says he cut taxes, so why are Canadians paying more?

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What Prime Minister Mark Carney gives with his left hand, he takes away with his right hand.

Canadians are already overtaxed and need serious tax cuts to make life more affordable and make our economy more competitive. But at best, the new year will bring a mixed bag for Canadian taxpayers.

The federal government is cutting income taxes, but it’s hiking payroll taxes. The government cancelled the consumer carbon tax, but it’s hammering Canadian businesses with a higher industrial carbon tax.

The federal government cut the lowest income tax bracket from 15 to 14 per cent. That will save the average taxpayer $190 in 2026, according to the Parliamentary Budget Officer.

But the government is taking more money from Canadians’ paycheques through higher payroll taxes, primarily Canada Pension Plan and Employment Insurance contributions.

Why Carney’s tax cuts don’t add up.
Troy Media

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